Commercial Appeal property sold to out-of-state investor

The Commercial Appeal's parent company sold 5.5 acres behind the newspaper's Union Avenue building Monday for $1 million.

New York-based Twenty Lake Holdings purchased the 597 Beale Street property — a mostly vacant lot — and is expected to soon purchase the 276,000-square-foot building the newspaper has long used for its offices, according to multiple sources close to the deal.

Twenty Lake has recently purchased numerous old newspaper buildings, including properties from Gannett Co., the CA's…

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